E-Z-GO 2014 Annual Report Download - page 66

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We calculate basic and diluted earnings per share (EPS) based on net income, which approximates income available to common
shareholders for each period. Basic EPS is calculated using the two-class method, which includes the weighted-average number of
common shares outstanding during the period and restricted stock units to be paid in stock that are deemed participating securities
as they provide nonforfeitable rights to dividends. Diluted EPS considers the dilutive effect of all potential future common stock,
including stock options and, prior to the maturity of our convertible notes on May 1, 2013, the shares that could have been issued
upon the conversion of the notes and upon the exercise of the related warrants.
The weighted-average shares outstanding for basic and diluted EPS are as follows:
(In thousands)
2014
2013
2012
Basic weighted-average shares outstanding
279,409
279,299
280,182
Dilutive effect of:
Stock options
2,049
328
428
ASR
332
—
—
Convertible notes and warrants
—
4,801
14,053
Diluted weighted-average shares outstanding
281,790
284,428
294,663
In 2014, 2013 and 2012, stock options to purchase 2 million, 5 million and 7 million shares, respectively, of common stock
outstanding are excluded from our calculation of diluted weighted-average shares outstanding as their effect would have been anti-
dilutive.
Accumulated Other Comprehensive Loss
The components of Accumulated Other Comprehensive Loss are presented below:
(In millions)
Pension and
Postretirement
Benefits
Adjustments
Deferred
Gains/Losses
on Hedge
Contracts
Foreign
Currency
Translation
Adjustments
Accumulated
Other
Comprehensive
Loss
Balance at December 29, 2012
$ (1,857)
$ 6
$ 81
$ (1,770)
Other comprehensive income before reclassifications
626
(15)
12
623
Amounts reclassified from Accumulated other
comprehensive loss
121
(1)
—
120
Other comprehensive income (loss)
747
(16)
12
743
Balance at December 28, 2013
(1,110)
(10)
93
(1,027)
Other comprehensive loss before reclassifications
(471)
(12)
(75)
(558)
Amounts reclassified from Accumulated other
comprehensive loss
70
9
—
79
Other comprehensive loss
(401)
(3)
(75)
(479)
Balance at January 3, 2015
$ (1,511)
$ (13)
$ 18
$ (1,506)
60 Textron Inc. Annual Report • 2014